The recently enacted "American Jobs Creation Act" gives significant tax breaks to a number of U.S. industries--including shipping.
MARINE LOG and BLANK ROME will present a senior level seminar CHANGES IN U.S. TAXATION OF SHIPPING INCOME in Stamford, Conn. on April 5 & 6, 2004
Make sure you know how the new tax rules work!
March 15, 2005
Upsurge in pirate activity
Citing three blatant acts of piracy in the past two weeks, the ICC's International Maritime Bureau (IMB) is reporting that violence is on the rise in the Malacca Straits.
Captain Pottengal Mukundan, Director of the IMB stated: "Following the tsunami of 26 December, there was a welcome decrease in piracy in the region. However, in the past two weeks there have been at least three violent attacks in these waters."
IMB's Piracy Reporting Center in Kuala Lumpur received the details of the attacks shortly after they occurred.
The first attack came on February 28. A tug towing a barge carrying coal for Lumut Power Station was attacked off the port of Penang. A gang of pirates abducted the captain and chief officer and held them for ransom.
On March 12, a fully laden tanker en route from Samarinda to Belawan in Indonesia was attacked by 35 armed pirates. The captain and chief engineer were kidnapped and are still missing. The vessel proceeded to Dumai, Indonesia.
A report in the Jakarta Post identifies this vessel as the 1,289 gt oil/chemical products tanker Tri Samudra. The newspaper report says that the attackers' arms included rocket launchers. Other reports say that the ship was carrying 1,300 tons of methanol.
On March 14, at approximately 1830 hours, the IMB Piracy Reporting Center received a report of the third attack in the Malacca Straits within two weeks.Idaten, a Japanese tug, had been attacked roughly 70 miles South West of Penang while towing Kuroshio, a construction barge, from Batam, Indonesia to Myanmar.
Armed pirates arrived in three fishing boats, abducted one Philippino and two Japanese crew members and transferred them to one of the fishing boats. The whereabouts of the abductees is still unknown. The remaining 11 members of the tug crew and 154 of the barge crew were not abducted and are safe. The Royal Malaysian Police sent patrol boats to the region and the tug and barge are now proceeding under police escort to Penang.
Captain Mukundan commented:"The recent upsurge of violence against vessels in the Malacca Straits is a matter of great concern. It is vital that action be taken by law enforcement agencies to identify the perpetrators of these attacks and have them punished under law. The abduction of crew members in this manner is a reprehensible act and should not be allowed to continue."
The Indonesian Navy has deployed ships from Batam and other bases in response to the incidents.